20k lump sum

D

damoz

Registered User
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Simple question,

What is the best investment for a lump sum of 20k. I am 30, soon to be married, no children, no debt apart from mortgage. Willing to accpet medium level of risk, and looking for medium to long term investment (5 years plus).

I have a pension, and invest in stocks (through work) outside of this lump sum.

Would appreciate your tips / advice.
 
Would you not need some of this money for the wedding? How big is your mortgage compared to your salary? Perhaps reducing the mortgage might be a better way to proceed? It's difficult to recommend specific course of action without even more detailed information. Howewver perhaps some or all of it in a low charges unit linked fund? See the for some info on such products. Also have a read of the key posts and, in particular, the AAM and IFSRA guides to savings and investments if you have not seen them already.
 
Thanks for the reply. This 20k is "surplus" to all other expenses related to the wedding. Mortgage is 5x current salary (3x our combined salaries) and is only a few months old. I didnt think of the mortgage as an option, as i imagined i would get a return in excess of the interest rate on it over the long term from some investment product - however i know there are no guarnatees here. I will read what you recommended and have a rethink.

I was also wondering in the light of the current correction in world markets if there was some value in US equities once the current bottom out is reached. I have stocks with Dolmen now, but would like to know who is the best broker in ireland from a performance / cost perspective.
 
I know the FA offered a mortgage linked account option where you could lodge funds to this account and have it offset for interest purposes against your mortgage. This also gives you the option of withdrawing the funds at any time should you need them. Other lenders may also have such a facility.
 
damoz said:
but would like to know who is the best broker in ireland from a performance / cost perspective.
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Whatever about cost the choice of broker has nothing to do with the performance of the shares that you invest in!
 
BrenG said:
I know the FA offered a mortgage linked account option where you could lodge funds to this account and have it offset for interest purposes against your mortgage. This also gives you the option of withdrawing the funds at any time should you need them. Other lenders may also have such a facility.
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Several lenders offer such current account/offset mortgages but some of them charge higher rates than non current account/offset mortgages from other lenders.
 
ok, i think its time for me to take 5 and research this properly. when i do, and have specific questions i may come back ! thanks for the replies so far.
 
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